Prominent NFT marketplace OpenSea has made sizeable cuts to its staff – up to 50% of its team will lose their jobs, according to reports.
CEO and co-founder Devin Finzer announced the lay-offs in a Friday (UTC) tweet in amongst details of a “big upgrade” coming to the platform.
“Today, we’re re-orienting the team around ‘OpenSea 2.0,’ a big upgrade to our product – including the underlying technology, reliability, speed, quality and experience,” Finzer tweeted.
“We will change how we operate – shifting to a smaller team with a direct connection to users. So today, we’re saying goodbye to a number of OpenSea teammates.”
Finzer did not say exactly how many employees would go, but a spokesperson confirmed 50% of staff would be impacted, Decrypt reported.
OpenSea cut about 20% of its staff in July 2022, after which its team numbered 230.
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